Business
AppFolio, Inc. Announces Fourth Quarter and Fiscal Year 2024 Financial Results
Fourth quarter caps off year of innovation including new AppFolio Realm-X capabilities and a transformed resident vision SANTA BARBARA, Calif., Jan. 30, 2025
About this update from Appfolio, Inc.
[{"type":"text","content":"Fourth quarter caps off year of innovation including new AppFolio Realm-X capabilities and a transformed resident vision\nSANTA BARBARA, Calif., Jan. 30, 2025 (GLOBE NEWSWIRE) -- AppFolio, Inc. (NASDAQ: APPF) (\"AppFolio\" or the \"Company\"), a technology leader powering the future of the real estate industry, today announced its financial results for the fourth quarter and fiscal year ended December 31, 2024. \"I am proud of our strong performance in 2024 as we continue to deliver value to our customers through differentiated industry-leading innovation,\" said Shane Trigg, President and CEO, AppFolio. \"Our investments in AI and the resident experience are translating into meaningful outcomes for our customers and fueling our mission to build the platform where the real estate industry comes to do business. We are acquiring, growing, and retaining customers while delivering exceptional service.\" Financial Highlights for Fourth Quarter of 2024 Revenue grew 19% year-over-year to $204 million.Total units under management grew 6% year-over-year to 8.7 million.GAAP operating income was $23 million, or 11.3% of revenue, compared to operating income of $28 million, or 16.4% of revenue in Q4 2023.Non-GAAP operating income was $41 million, or 20.2% of revenue, compared to an operating income of $42 million, or 24.3% of revenue, in Q4 2023.Net cash provided by operating activities was $37 million, or 18.0% of revenue, compared to $31 million, or 18.1% of revenue, in Q4 2023.Non-GAAP free cash flow was $35 million, or 17.3% of revenue, compared to $34 million, or 19.9% of revenue, in Q4 2023. Financial Highlights for Fiscal Year 2024 Revenue grew 28% year-over-year to $794 million.GAAP operating income was $136 million, or 17.1% of revenue, compared to operating income of $1 million, or 0.2% of revenue, in fiscal year 2023.Non-GAAP operating income was $200 million, or 25.2% of revenue, compared to operating income of $76 million, or 12.2% of revenue, in fiscal year 2023.Net cash provided by operating activities was $188 million, or 23.7% of revenue, compared to $60 million, or 9.7% of revenue, in fiscal year 2023.Non-GAAP free cash flow was $182 million, or 22.9% of revenue, compared to $74 million, or 11.9% of revenue, in fiscal year 2023. Financial OutlookBased on information available as of January 30, 2025, AppFolio's outlook for ...